Friday, November 10, 2017

TOCOM falls further on weak Shanghai market

Benchmark Tokyo rubber futures extended declines into a third session on Friday, as Shanghai futures stayed in the doldrums amid concerns about weak global demand in top consumer China, brokers said.

The Tokyo Commodity Exchange rubber contract for April delivery finished 4.5 yen lower at 198.6 yen (US$1.75) per kg. For the week, it fell 0.6% in its second straight weekly decline.

The most-active rubber contract on the Shanghai futures exchange for January delivery fell 75 yuan to finish at 13,855 yuan (US$2,086) per tonne.

Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 2.2% from last Friday, the exchange said on Friday.

The front-month rubber contract on Singapore's SICOM exchange for December delivery was unchanged at 141.70 US cents per kg.

Rubber farmers in Thailand, one of the world's biggest exporters of natural rubber, threatened on Friday to protest in the capital Bangkok if the military government does not help to prop up falling prices of the commodity.

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